Mike Rounds: “Many rural counties already face vacancy rates below 1%.”

“After that, the pace accelerates dramatically, with hundreds of properties expected to mature each year in the following decade. In rural housing markets. Once these units disappear, they are almost never replaced. Many rural counties already face vacancy rates below 1%. And in more than half of rural counties across the country, there is little or no new housing construction at all. The Rural Housing Service Reform act addresses this challenge directly.” (03:10–03:15)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.